What to do if a long term employee of 22 years is being faced with a major pay cut and other unfair terms?

Question Details:

I have worked for the same hospital for 22 years as a medical transcriptionist. I have always been paid hourly, with periodic raises and finally making a decent wage. However, they are now going to start paying us by production/per line, which will result in a significant pay cut for myself and the few others who have been there the longest. They are planning to pay us all a flat rate per line regardless of our years of service. They have also told us that if the census is low, resulting in lack of work, we will be required to use our PTO if we have any or not get paid at all.

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